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Monday, September 22, 2008
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Mutual Fund News
Sep 2 2008 6:28PM
Mutual funds in selling mode

Mutual funds sold shares worth a net Rs 80.70 crore on Monday, 1 September 2008, compared to net purchases worth Rs 398.40 crore on Friday, 29 August 2008.

Mutual funds net outflow of Rs 80.70 crore on 1 September 2008 was a result of gross purchases Rs 311 crore and gross sales Rs 391.70 crore. The market ended with small losses on Monday, 1 September 2008, staging a smart comeback from an intra-day fall. BSE Sensex lost 66.02 points or 0.45% at 14,498.51, recovering from an intra-day fall of 283.43 points.

Equity mutual funds are sitting on large cash pile and the market may find support once mutual funds start deploying the idle cash. Equity funds are having 11% of assets in cash

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